Georgia may authorize the payment of taxes in cryptocurrency

The Georgia legislators proposed to amend the Charter of the Department of revenue for collecting taxes and licenses, according to which residents will be able to pay taxes in cryptocurrency. The bill was submitted for consideration on 21 February.

Under the bill, after receiving payments in bitcoin, they will be converted into U.S. dollars at the current rate within 24 hours of receipt and credited to the payer’s account.

Georgia follows the example of Arizona, which said consideration of a similar bill, intending to become the first state in the United States, whose residents will be able to pay taxes with cryptocurrencies, if the bill is passed.

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